Calculators
Calculators are used to determine experience points and item manufacture costs based on real-time prices in the Grand Exchange Market Watch. Agility : Constitution : Construction : Cooking : Crafting : Farming : Firemaking : Fishing : Fletching : Herblore : Hunter : Magic : Mining : Prayer : Runecrafting : Slayer : Smithing : Summoning : Thieving : Woodcutting : Stores : Combat : Others : Opportunity costs All raw material costs used in the calculators are based on real-time prices from the Grand Exchange Market Watch. This assumes that the player is buying items from the Grand Exchange, even if these items are easily obtainable from alternative locations. This is due to the fact that using an item as a raw material prevents the player from selling that item on the Grand Exchange, thereby effectively "costing" the player the amount of money they could have sold it for. In business, this concept is called Opportunity cost and should be considered when calculating the actual cost using raw materials. For example: :When Prayer potions are made, Snape grass is one of the ingredients (raw material) used for making this potion. Snape grass can easily be found on the Hobgoblin peninsula, south-west of the Crafting Guild, which is south-west of Falador, and also on Waterbirth Island. However, the player could sell the Snape grass on the Grand Exchange for coins each. So, using it to make Prayer potions has effectively cost them coins for each potion made, even though they got Snape grass for free. The same concept applies to any ores mined, or any animal hides collected instead of being bought from the Grand Exchange. This may sound counter-intuitive, but ignoring it distorts the actual cost of making items and gives incorrect figures. That said, while opportunity cost must be considered in a microeconomic cost-benefit model, it is important to note that market forces sometimes make selling the raw materials (also known as "inputs") difficult. It might take a long time, for example, to sell iron ores, but superheating them into iron bars for experience and profit could yield a faster turn-around on the time investment. In a macroeconomic sense, players must evaluate how long they wish to spend, and how much money they have on hand before deciding whether to harvest raw materials themselves, or purchase them outright. Generally, one will save time by purchasing the raw materials, but one must invest more money up-front, and in many instances will not turn a profit. Conversely, it will take one longer to harvest raw materials but the initial investment is much lower (provided, of course, that you are capable of acquiring the raw materials you need in the first place) but in many instances to overall profit potential is higher because you are reducing your input costs. If you are harvesting your raw materials, simply calculate with a GE price of 0 for whatever you happen to be harvesting on your own. For example: : If buying the materials,it is possible to make or lose nothing: : Or to lose money: : Requests If new calculators are needed, feel free to make a request here. If a calculator is errored or outdated, then corrections are always welcome. nl:Calculators *